Newberry VA Loan Rates, Closing Costs & Stats

Newberry, SC

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Newberry's 22 lenders originated 43 VA loans during 2023. The total origination value was $13,375,000, with an average VA loan value of $311,047.

Newberry VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Newberry averaged 6.77% for the week of 2024-05-24, compared to the national average (all VA variants) of 6.567% for the same period.

Newberry's average VA mortgage closing costs are $6,438.

The average rate for the prior week (2024-05-17) was 6.6% and one month ago for the week of 2024-04-19, the average rate was 6.97%.

The average rate one year ago was 6.64%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.67%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Newberry VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Newberry level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
CARDINAL FINANCIAL 5 7.15% $28,803
Mortgage Research Center, LLC 5 7.05% $1,504
GUILD MORTGAGE COMPANY 4 6.56% $11,206
CROSSCOUNTRY MORTGAGE, LLC 3 6.90% $11,910
DELMAR FINANCIAL COMPANY 3 7.16% $7,245
DHI MORTGAGE COMPANY, LTD. 2 4.37% $2,718
RESOURCE FINANCIAL SERVICES, INC. 2 6.56% $8,302
Renasant Bank 2 6.44% $3,456
NEW DAY FINANCIAL, LLC 1 6.25% $5,367
QUICKEN LOANS, LLC 1 6.99% $6,805
RELIANCE FIRST CAPITAL, LLC 1 5.50% $10,840
Truist 1 7.10% $3,175
UNITED WHOLESALE MORTGAGE, LLC 1 5.06% $7,861
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $12,724
VILLAGE CAPITAL MORTGAGE 1 7.25% $16,394
Ameris Bank 1 6.13% $4,044
First Palmetto Bank 1 5.63% $7,590
GUARANTEED RATE AFFINITY, LLC 1 6.75% $12,209
LOANPAL, LLC 1 6.50% $11,813
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $8,287
MOVEMENT MORTGAGE, LLC 1 6.00% $6,558
NAVY FEDERAL CREDIT UNION 1 5.25% $2,705

The top Newberry VA lender as defined by loan originations is CARDINAL FINANCIAL, with 5 VA loans originated. Their average total fees are $28,803, which is $27,300 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Newberry VA lenders (with over 10 loans originated) are .

The lowest rate Newberry VA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $159,450 (-0.2%) $213,676 (-12.2%) 0.00 139
2018-02-01 $161,450 (8.0%) $214,346 (-3.3%) 0.00 129
2018-03-01 $176,250 (21.6%) $235,991 (7.6%) 0.00 116
2018-04-01 $234,000 (56.0%) $258,935 (10.8%) 0.00 107
2018-05-01 $236,500 (32.9%) $260,339 (5.1%) 0.00 91
2018-06-01 $199,900 (12.8%) $256,734 (0.7%) 0.00 102
2018-07-01 $195,700 (8.8%) $238,935 (-1.8%) 0.00 115
2018-08-01 $237,450 (37.9%) $261,611 (12.1%) 0.00 108
2018-09-01 $229,900 (27.8%) $250,899 (5.1%) 0.00 103
2018-10-01 $209,475 (19.7%) $251,663 (9.4%) 0.00 101
2018-11-01 $223,475 (27.7%) $246,556 (11.9%) 0.00 93
2018-12-01 $225,000 (30.5%) $245,314 (13.0%) 0.00 95
2019-01-01 $219,000 (37.4%) $242,047 (13.3%) 0.00 88
2019-02-01 $220,375 (36.5%) $246,760 (15.1%) 0.00 86
2019-03-01 $236,000 (33.9%) $266,512 (12.9%) 0.00 87
2019-04-01 $250,125 (6.9%) $290,021 (12.0%) 0.00 86
2019-05-01 $217,200 (-8.2%) $278,520 (7.0%) 0.00 91
2019-06-01 $195,400 (-2.3%) $259,142 (0.9%) 0.00 86
2019-07-01 $193,100 (-1.3%) $251,170 (5.1%) 0.00 88
2019-08-01 $194,405 (-18.1%) $247,283 (-5.5%) 0.00 95
2019-09-01 $190,211 (-17.3%) $242,552 (-3.3%) 0.00 96
2019-10-01 $187,416 (-10.5%) $239,398 (-4.9%) 0.00 93
2019-11-01 $184,999 (-17.2%) $246,932 (0.2%) 0.00 93
2019-12-01 $187,450 (-16.7%) $246,651 (0.6%) 0.00 95
2020-01-01 $198,450 (-9.4%) $258,781 (6.9%) 0.00 82
2020-02-01 $199,900 (-9.3%) $272,399 (10.4%) 0.00 86
2020-03-01 $208,408 (-11.7%) $275,522 (3.4%) 0.00 84
2020-04-01 $211,380 (-15.5%) $284,288 (-2.0%) 0.00 85
2020-05-01 $229,950 (5.9%) $302,857 (8.7%) 0.00 81
2020-06-01 $224,424 (14.9%) $299,861 (15.7%) 0.00 63
2020-07-01 $223,427 (15.7%) $295,016 (17.5%) 0.00 59
2020-08-01 $219,900 (13.1%) $276,975 (12.0%) 0.00 48
2020-09-01 $198,625 (4.4%) $239,626 (-1.2%) 0.00 47
2020-10-01 $192,500 (2.7%) $246,698 (3.1%) 0.00 41
2020-11-01 $207,450 (12.1%) $253,676 (2.7%) 0.00 36
2020-12-01 $235,000 (25.4%) $295,374 (19.8%) 0.00 44
2021-01-01 $223,500 (12.6%) $269,204 (4.0%) 0.00 36
2021-02-01 $233,750 (16.9%) $278,941 (2.4%) 0.00 42
2021-03-01 $249,913 (19.9%) $305,775 (11.0%) 0.00 33
2021-04-01 $249,000 (17.8%) $303,252 (6.7%) 0.00 22
2021-05-01 $256,375 (11.5%) $303,944 (0.4%) 0.00 21
2021-06-01 $187,500 (-16.5%) $327,635 (9.3%) 0.00 28
2021-07-01 $275,000 (23.1%) $367,964 (24.7%) 0.00 29
2021-08-01 $257,875 (17.3%) $374,764 (35.3%) 0.00 37
2021-09-01 $306,875 (54.5%) $427,215 (78.3%) 0.00 43
2021-10-01 $295,000 (53.3%) $376,227 (52.5%) 0.00 42
2021-11-01 $300,975 (45.1%) $447,394 (76.4%) 0.00 37
2021-12-01 $300,750 (28.0%) $436,155 (47.7%) 0.00 30
2022-01-01 $274,950 (23.0%) $430,329 (59.9%) 0.00 26
2022-02-01 $245,500 (5.0%) $423,765 (51.9%) 0.00 17
2022-03-01 $300,165 (20.1%) $486,032 (59.0%) 0.00 21
2022-04-01 $302,940 (21.7%) $464,355 (53.1%) 0.00 36
2022-05-01 $308,740 (20.4%) $497,143 (63.6%) 0.00 47
2022-06-01 $309,065 (64.8%) $432,643 (32.1%) 0.00 58
2022-07-01 $306,490 (11.5%) $431,245 (17.2%) 0.00 68
2022-08-01 $310,165 (20.3%) $421,836 (12.6%) 0.00 62
2022-09-01 $310,000 (1.0%) $414,530 (-3.0%) 0.00 59
2022-10-01 $304,390 (3.2%) $392,733 (4.4%) 0.00 68
2022-11-01 $299,950 (-0.3%) $369,466 (-17.4%) 0.00 74
2022-12-01 $289,900 (-3.6%) $364,707 (-16.4%) 0.00 73
2023-01-01 $297,145 (8.1%) $374,444 (-13.0%) 0.00 59
2023-02-01 $285,018 (16.1%) $338,327 (-20.2%) 0.00 56
2023-03-01 $276,500 (-7.9%) $359,934 (-25.9%) 0.00 56
2023-04-01 $305,000 (0.7%) $437,500 (-5.8%) 0.00 64
2023-05-01 $401,000 (29.9%) $472,371 (-5.0%) 0.00 48
2023-06-01 $356,750 (15.4%) $458,502 (6.0%) 0.00 41
2023-07-01 $375,000 (22.4%) $462,830 (7.3%) 0.00 39
2023-08-01 $413,750 (33.4%) $503,140 (19.3%) 0.00 44
2023-09-01 $349,750 (12.8%) $475,469 (14.7%) 0.00 54
2023-10-01 $356,713 (17.2%) $496,723 (26.5%) 0.00 69
2023-11-01 $356,549 (18.9%) $506,658 (37.1%) 0.00 67
2023-12-01 $346,895 (19.7%) $480,324 (31.7%) 0.00 69
2024-01-01 $339,199 (14.2%) $467,779 (24.9%) 0.00 65
2024-02-01 $331,983 (16.5%) $482,530 (42.6%) 0.00 62
2024-03-01 $329,950 (19.3%) $475,450 (32.1%) 0.00 62
2024-04-01 $324,950 (6.5%) $499,652 (14.2%) 0.00 69
Newberry's median listing price for 2024-04-01 was $324,950, a difference of $19,950 (6.5%) versus the prior year and $-5,000 versus the prior month.

Newberry's median listing price comes in at 0% of the national average.

Newberry's average listing price for 2024-04-01 was $499,652, a difference of $62,152 (14.2%) versus the prior year and $24,202 versus the prior month.

For the 2024-04-01 period, Newberry had 69 MLS listings, a difference of 7 listings (11%) versus the prior month and 5 listings (8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,861 sqft
2018-02-01 0 days 1,815 sqft
2018-03-01 0 days 1,945 sqft
2018-04-01 0 days 1,985 sqft
2018-05-01 0 days 2,064 sqft
2018-06-01 0 days 1,907 sqft
2018-07-01 0 days 1,817 sqft
2018-08-01 0 days 1,920 sqft
2018-09-01 0 days 1,935 sqft
2018-10-01 0 days 1,973 sqft
2018-11-01 0 days 1,944 sqft
2018-12-01 0 days 2,010 sqft
2019-01-01 0 days 1,995 sqft
2019-02-01 0 days 1,944 sqft
2019-03-01 0 days 1,906 sqft
2019-04-01 0 days 1,854 sqft
2019-05-01 0 days 1,877 sqft
2019-06-01 0 days 1,856 sqft
2019-07-01 0 days 1,770 sqft
2019-08-01 0 days 1,716 sqft
2019-09-01 0 days 1,716 sqft
2019-10-01 0 days 1,736 sqft
2019-11-01 0 days 1,824 sqft
2019-12-01 0 days 1,857 sqft
2020-01-01 0 days 1,915 sqft
2020-02-01 0 days 2,004 sqft
2020-03-01 0 days 2,002 sqft
2020-04-01 0 days 1,986 sqft
2020-05-01 0 days 2,000 sqft
2020-06-01 0 days 1,971 sqft
2020-07-01 0 days 1,908 sqft
2020-08-01 0 days 1,986 sqft
2020-09-01 0 days 1,912 sqft
2020-10-01 0 days 1,929 sqft
2020-11-01 0 days 1,997 sqft
2020-12-01 0 days 1,967 sqft
2021-01-01 0 days 2,009 sqft
2021-02-01 0 days 1,917 sqft
2021-03-01 0 days 1,918 sqft
2021-04-01 0 days 2,044 sqft
2021-05-01 0 days 1,964 sqft
2021-06-01 0 days 1,690 sqft
2021-07-01 0 days 1,950 sqft
2021-08-01 0 days 2,020 sqft
2021-09-01 0 days 2,122 sqft
2021-10-01 0 days 2,100 sqft
2021-11-01 0 days 2,103 sqft
2021-12-01 0 days 2,276 sqft
2022-01-01 0 days 2,146 sqft
2022-02-01 0 days 1,821 sqft
2022-03-01 0 days 2,090 sqft
2022-04-01 0 days 2,049 sqft
2022-05-01 0 days 2,196 sqft
2022-06-01 0 days 2,196 sqft
2022-07-01 0 days 2,232 sqft
2022-08-01 0 days 2,232 sqft
2022-09-01 0 days 2,361 sqft
2022-10-01 0 days 2,303 sqft
2022-11-01 0 days 2,233 sqft
2022-12-01 0 days 2,196 sqft
2023-01-01 0 days 2,204 sqft
2023-02-01 0 days 2,182 sqft
2023-03-01 0 days 2,189 sqft
2023-04-01 0 days 2,185 sqft
2023-05-01 0 days 2,288 sqft
2023-06-01 0 days 2,150 sqft
2023-07-01 0 days 1,886 sqft
2023-08-01 0 days 1,869 sqft
2023-09-01 0 days 1,990 sqft
2023-10-01 0 days 2,225 sqft
2023-11-01 0 days 2,225 sqft
2023-12-01 0 days 2,204 sqft
2024-01-01 0 days 2,151 sqft
2024-02-01 0 days 2,189 sqft
2024-03-01 0 days 2,132 sqft
2024-04-01 0 days 2,056 sqft
Newberry's median listing age (time on market) for 2024-04-01 was 0 days.

Newberry's median square footage for active listings during the 2024-04-01 period was 2,056 sqft. One year prior, the average listing was 2,185 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.